At Sibos 2023 , Kalliopi Chioti , chief marketing and ESG officer, Temenos, chats to Funds Europe about how banks are leveraging technology and ESG demands to drive sustainable finance. Funds Europe: The EU Sustainable Finance Disclosure Regulation (SFDR) has set stricter criteria for what qualifies as green products. How do you anticipate these regulatory shifts altering the traditional operations of banks, and what kind of adaptations do you foresee as essential for banks to remain compliant? The introduction of this regulation underscores the increasing significance of environmental, social, and governance (ESG) considerations in the finance sector. Banks and financial institutions are now feeling the weight of responsibility to place ESG objectives at the forefront. This need is evidenced when these institutions approach us for digital transformation but with a clear mandate to incorporate ESG parameters. The EU and active players like the UK are pushing financial entities to be more precise and quantifiable about the financial implications of climate change. One clear example of this is the imperative to disclose scope three emissions, which covers emissions from their supply chain. On top of this, we’re seeing new standards emerging, such as those under IFRS, which are prompting banks […]
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